Nepal | August 10, 2020

Charge-sheet filed against Chinese JV

Himalayan News Service
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Kathmandu, November 8

The Department of Revenue Investigation has filed a charge-sheet against Nepal Donghua Construction Engineering Co, a Chinese joint venture firm, at Kathmandu District Court for revenue leakage.

The DRI has sought recovery of Rs 131.31 million, along with a fine of up to double the amount in question, from four promoters of the company. The department has also asked that the promoters of the company be jailed for up to three years.

The defendants indicted by DRI are Yang Lim, Xie Xiangjun, Wei Degui and Subin Shrestha, the promoters of the company.

According to the charge-sheet, the company was involved in revenue leakage, including VAT and income tax, by purchasing falsified and fake VAT bills without purchasing goods and services.

The DRI stated that the defendants were involved in leakage of around Rs 131.31 million, including Rs 42.1 million in VAT, Rs 77.7 million in income tax and Rs 11.4 million in dividend tax.

The department has also said that it is in the process of filing a revenue embezzlement case against other domestic firms at Kathmandu District Court.

 


A version of this article appears in print on November 09, 2019 of The Himalayan Times.


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